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Australian Mining Giant Pilbara Minerals Sets Sights On Brazil’S Lithium Boom
(MENAFN- The Rio Times) Pilbara Minerals, the world's largest hard-rock lithium producer, is making its first foray into Brazil's burgeoning lithium market.
The Australian company plans to invest R$2.2 billion (approximately $450 million) in a lithium project in Minas Gerais state.
This strategic move involves an all-share Acquisition of Latin Resources, giving Pilbara control of the promising Salinas Lithium Project in Brazil's Jequitinhonha Valley .
The deal still requires shareholder approval, with a vote scheduled for November. Pilbara's expansion into Brazil aligns with its goal to diversify beyond its Pilgangoora operation in Western Australia.
The Salinas project offers a gateway to North American and European battery markets, strengthening Pilbara's global position.
Even before extraction begins, Salinas will boost Pilbara's current reserves by 20%. The company expects Salinas to contribute up to 30% of its production volume once fully operational.
Initial assessments paint an optimistic picture. Phase 1, slated to start in 2026, could yield 405,000 tonnes of high-grade lithium oxide spodumene concentrate annually.
Phase 2, beginning in 2029, aims to increase production to 525,000 tonnes of high-grade concentrate and 159,000 tonnes of lower-grade product per year.
The project promises significant economic benefits for the region. Pilbara anticipates creating 4,000 jobs during construction and over 1,000 permanent positions once operational. Half of the workforce will be sourced locally.
Australian Mining Giant Pilbara Minerals Sets Sights on Brazil's Lithium Boom
Dale Henderson, Pilbara's CEO, emphasized the strategic importance of the acquisition. He views Salinas as potentially one of the world's largest hard-rock lithium operations, crucial for expanding Pilbara's footprint in key battery markets.
To ensure a smooth transition, Latin Resources' executive director, Chris Gale, will join Pilbara as a consultant for 12 months.
This deal highlights the growing importance of Brazil in the global lithium supply chain. As demand for electric vehicles and renewable energy storage surges, securing stable lithium sources becomes increasingly critical for industry players.
The Australian company plans to invest R$2.2 billion (approximately $450 million) in a lithium project in Minas Gerais state.
This strategic move involves an all-share Acquisition of Latin Resources, giving Pilbara control of the promising Salinas Lithium Project in Brazil's Jequitinhonha Valley .
The deal still requires shareholder approval, with a vote scheduled for November. Pilbara's expansion into Brazil aligns with its goal to diversify beyond its Pilgangoora operation in Western Australia.
The Salinas project offers a gateway to North American and European battery markets, strengthening Pilbara's global position.
Even before extraction begins, Salinas will boost Pilbara's current reserves by 20%. The company expects Salinas to contribute up to 30% of its production volume once fully operational.
Initial assessments paint an optimistic picture. Phase 1, slated to start in 2026, could yield 405,000 tonnes of high-grade lithium oxide spodumene concentrate annually.
Phase 2, beginning in 2029, aims to increase production to 525,000 tonnes of high-grade concentrate and 159,000 tonnes of lower-grade product per year.
The project promises significant economic benefits for the region. Pilbara anticipates creating 4,000 jobs during construction and over 1,000 permanent positions once operational. Half of the workforce will be sourced locally.
Australian Mining Giant Pilbara Minerals Sets Sights on Brazil's Lithium Boom
Dale Henderson, Pilbara's CEO, emphasized the strategic importance of the acquisition. He views Salinas as potentially one of the world's largest hard-rock lithium operations, crucial for expanding Pilbara's footprint in key battery markets.
To ensure a smooth transition, Latin Resources' executive director, Chris Gale, will join Pilbara as a consultant for 12 months.
This deal highlights the growing importance of Brazil in the global lithium supply chain. As demand for electric vehicles and renewable energy storage surges, securing stable lithium sources becomes increasingly critical for industry players.
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